The present invention relates to a blank check processing system, and more particularly to a method of preparing a set of checks to be delivered to an individual.
In today's modern society, almost any consumer good can be purchased through use of a check. Businesses ranging from car dealerships to fast food restaurants accept checks for their goods and/or services. A great majority of adults have some form of a checking account at either a bank, a credit union, or other financial institution.
Regardless of the type of institution at which an individual has a checking account, there are a variety of account choices he may make in setting up his checking account: some checking accounts offer interest for money within the account while other accounts offer no interest; some checking accounts charge a check fee for each check written on the account while other accounts offer unlimited checking. In addition, an individual must choose a particular style of checks, whether he wants single or duplicate checks, the particular style and color of the check cover, and whether he wants overdraft protection on the checking account.
Regardless of all of the above-mentioned decisions which must be made by an individual, it is inevitable that all individuals having a checking account will eventually need to order a set of checks for their checking account. Normally, the individual fills out a check request order form and sends the form to the bank or financial institution at which the individual has the checking account. The bank or financial institution routinely forwards the check request order form to a check printing company.
The check printing company prints the set of checks, places the checks in a cardboard box, prepares a mailing label indicating the individual's name and address, packs one or more boxes of checks into a shipping carton, attaches the mailing label to the shipping carton, and delivers the carton containing boxes of checks to the individual.
Simultaneously, the check printing company proceeds with billing for the checks in one of two ways. First, the check printing company can issue an invoice to the bank or financial institution summarizing the orders which were completed for that particular bank or financial institution over a given period of time. The bank or financial institution is then responsible for notifying the individual of the amount owed for the checks, collecting the proper payment from the individual, and paying the check printing company for its services.
Second, the check printing company can manually calculate the entire customer price, including the bank or financial upcharge, postage, and delivery costs. The check printing company can bill the individual for the entire service through use of a handwritten or computer generated invoice separately mailed to the individual, or by a direct transfer of funds from the individual's checking account. The check printing company can then pay for the delivery charge, sales tax, and institution upcharges before getting reimbursed.
While either procedure works flawlessly in many circumstances, there are instances in which two separate individuals will receive the wrong set of checks. This happens because two mailing labels get inadvertently switched and placed on the wrong box of checks. This type of mistake often causes apprehension and stress to the individuals who have received the wrong set of checks. Often, the additional time delay in receiving the correct set of checks causes ill-will towards both the financial institution and the check printing company.
Therefore, there is a need for a system and a device for preparing and delivering checks to an individual which will prevent two individuals from receiving each other's set of checks, rather than their own set of checks.